PSG avoids FFP penalty but must raise immediate funds to satisfy UEFA

They were cleared of breaching FFP rules, but the French club's transfer dealings from last summer onwards will remain "under close scrutiny".

The decision followed a detailed review of transfer contracts and analysis of the related management accounts.

Although they are unlikely to spend anywhere near as heavily this summer as last, they will not suffer squad or salary restrictions and could make bigger moves further down the line if they break even this year.

But it is understood that in order to balance the books for the current financial year, which ends on 30 June, they need to raise money from player sales.

Uefa says its club finance investigators decided the French champion overstated the market value of "several club sponsorship contracts".

In closing the investigation, Uefa said the "break-even result of the club remains within acceptable deviation" for the past three financial years.

United Kingdom newspaper the Financial Times reported in April that PSG could be sanctioned under FFP rules having secured sponsorship deals valued at more than the fair market rate.

UEFA added that PSG's results for the financial years ending in 2015, 2016 and 2017 were accepted under the FFP rules but warned more recent transfer activities "will remain under close scrutiny and will be thoroughly looked at in the coming weeks".

PSG also agreed to pay €155m (£137m/$183m) to complete a permanent deal for Kylian Mbappe, who they signed on loan at the club from Ligue 1 rivals Monaco.

PSG were previously punished under FFP rules in May 2014 when the Qatari-owned club's sponsorship agreement with the Qatari Tourism Authority was judged to have an unfair value by UEFA's independent investigation panel.